What Does a REALTOR do in a Sale? (Part 1 of 6) |
Dec. 20, 2006
Categorized in: Role of a REALTOR
The role of a REALTOR in the sale of a house is complex, far more so than many buyers and sellers realize. This is because many of the acitvities go on behind the scenes.
Since you are going to be working with a REALTOR to help sell your house during your relocation (unless you decide to chance doing it on your own - read my series on "Thinking about Selling Your Home Yourself."), it would be beneficial to you to understand what the role entails.
Here are some of the things a REALTOR does before even meeting with a seller to discuss a potential listing.
Pre-Listing Activities
- Make appointment with seller for listing presentation
- Confirm listing appointment and call to reconfirm
- Review pre-appointment questions and information needed from seller
- Provide Pre-Listing Information Package to seller (surprisingly, many agents DO NOT do this like I do)
- Research all comparable currently listed properties
- Research sales activity for the past 6 months (standard review period) from MLS and public records databases - in some markets, such as one where prices are rising or dropping, the time period is less
- Research property tax roll information, property ownership, details of lots, legal description, zoning
- Prepare "Comparable Market Analysis" (CMA) to establish fair market value - I do a RIGHT PRICE ANALYLSIS (see my website for more information on this)
- Verify legal names of owner(s) in county's public property records
- Prepare listing presentation package with above materials and MLS information
- Perform exterior "Curb Appeal Assessment" of subject property
- Make sure marketing materials are assembled to review with seller
- Take pictures of property for mock up of feature sheet (again, not something a lot of agents do)
If I can answer any questions or provide other assistance, please let me know.
